Once your MPF loan has been funded, the MPF Custody process ensures that all Mortgage Loans meet investor certification criteria. Review the resources for an understanding of the Custody process.

Participating Financial Institutions (PFIs) are required to deliver specific documents to the MPF Program’s Custodian within seven (7) calendar days of the Funding Date by the MPF Bank. Mortgage Loans must receive an Initial Certification in accordance with the appropriate MPF Guides. In addition to the Initial Certification, MPF Government and MPF Government MBS loans must also receive Final Certification within 365 calendar days of the Funding Date by the MPF Bank.

Please refer to the MPF Guides for complete details on all MPF Products.

Initial Certification Process Flow (All MPF Products)

Each loan must obtain Initial Certification by the MPF Program Custodian within 7 calendar days of the Funding Date by the MPF Bank. 
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Note(s) & Required Documents

Submit to the MPF Custodian, this will begin the Initial Certification process.

document

Reports

Review Initial Document Exception Report on the eMPF® Website, posted daily.

document

Clear Exceptions

Send Initial Document Exception Report along with updated documentation for Custodian review. All exceptions must be cleared to obtain Initial Certification.

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Initial Certification

Mortgage Loans with no outstanding exceptions appear on the Certified Loans Report available on the eMPF Website, posted daily. Each loan must be certified within 7 calendar days of the Funding Date by the MPF Bank.

Final Certification Process Flow (MPF Government and MPF Government MBS Products only)

Each government loan must obtain Final Certification by the MPF Program Custodian within 365 calendar days of the Funding Date by the MPF Bank. 
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Government Agency Guarantee and Required Documents

Submit Loan Guarantee-Insurance and required documents to MPF Custodian to obtain Final Certification.

document

Reports

Review Final Document Exception Report on the eMPF Website, posted daily.

document

Clear Exceptions

Send Final Document Exception Report along with updated documentation for Custodian review. All exceptions must be cleared to obtain Final Certification.

complete

Final Certification

Mortgage Loans with no outstanding exceptions appear on the Certified Loans Report available on the eMPF Website, posted daily. Each loan must be certified within 365 calendar days of the Funding Date by the MPF Bank.

Custody Quick Reference Guide

MPF Xtra
Servicing Retained and Released
MPF Government MBS
Servicing Retained and Released
Initial Certification
file-pdf file-word file-word
Final Certification - Government Only
file-pdf file-word file-word
Trailing Documentation 
(Servicing Released Only)


Temporarily Suspended

 

Custodial Guide & Fees (Chapter 8)
file-pdf file-word file-word

Resources

The Custody Process for the MPF Traditional and MPF Xtra Products

faq_io

Exhibit J: Frequently Asked Questions and Answers of the MPF Program Custodian

FAQs